Is It Wise to Buy a Single Family Home?

The new styles of homes, like condos and townhouses have enticed some people to choose them over single family homes. This is also partly to be blamed with the high cost of real property and the worldwide economic crisis. However, there are still a lot of families who prefer to live in single-detached houses.Single family homes are built solely on their own lot. The home may roughly be about 650 sq. ft. – 750 sq ft. Hence, unlike in condos and townhouses, this type of abode allows you to buy a lot and a home at the same time.Advantages of buying a single family home

You have more control for the space is yours.
You do not share walls with other dwellers; thus, you are freed of hearing unnecessary noises inside your abode.
You are not governed by other policies except your city and locality’s rules.
You can refurbish it inside like repainting the walls, renovate a room or add a room (as long as you fulfill the city’s requirements), etc. You can also alter its outer area like changing the landscape, etc.
Most single family homes include appliances like cooker, microwave oven, fridge, etc.
It also has security home system, heating, cooling, and garage, gated or gated (depending on what you choose).
Some single-detached homes with a bigger lot have a swimming pool and a bigger garden or patio.
You do not need to pay for management fees that are required in condos and town homes.
Its re-sale value is higher than condos or townhouses.
You can rent it out after a few years.

You shoulder all the maintenance fees.
You are in charge in the maintenance of the landscape and upkeep of your garden.
It is costlier than condos and town homes.
It does not have amenities like playgrounds, pools and gym commonly found in condominiums and town houses.
Privacy is still very important to any person or family and this is the biggest advantage of owning a single family home. Knowing the advantages and disadvantages when buying real property is essential to determine what suits you best. Nevertheless, your family’s welfare must be your priority. You need to make sure that the home you are buying is the right one for you and your family.The question of whether to buy a single family home also depends on your financial resources. Some people who invest on real property already have a business plan from the first day they had bought the property. Most people invest on buying a home with the intention of reselling or leasing them out. Since paying off for the home may require you to dole out a big amount of money, it would be wise to buy a home that will give you returns immediately. You must, however, be ready to pay for your monthly amortization and to keep the real property in good condition for better returns.